Thousands rally in Spain’s capital against increasing housing costs

MADRID (AP) — Thousands of people rallied in central Madrid on Sunday against spiraling housing costs that have priced many Spaniards out of the housing market despite a recent economic boom, particularly in cities such as the country’s capital and Barcelona.

Spain’s housing crisis is one of Socialist Prime Minister Pedro Sánchez ’s main political vulnerabilities ahead of elections in 2027.

The country has a strong tradition of homeownership and scant public housing for rent, while rents have been driven up by increased demand, including due to tourism and population growth linked to immigration, analysts say.

The protesters chanted slogans and held banners highlighting their right to housing. “We want neighbors, not tourists,” one banner read.

Estrella Baudu, a 28-year-old teacher who was among the protesters, said she was living with her grandmother. “The situation for many young people like me is quite complicated, and it is very difficult to find a rental home due to the prices and low salaries,” she said.

The march comes a day after tens of thousands of people protested in Madrid against Sanchez, as political tensions and criticism rose over corruption allegations and dissatisfaction with the government.

Buying a home in Spain has become unaffordable for many, with market pressures and speculation driving up prices, especially in big cities and coastal areas.

Last month, Spain’s government passed a sweeping plan worth 7 billion euros ($8.23 billion) to build more public housing over the next four years and provide help for young renters and homebuyers, among the hardest hit by high rental and home costs.